Unit of Natural Resources Economics  - General course conclusions

Unit of Natural Resources Economics – General course conclusions

we have now concluded the unit of Natural Resource Economics the main objective of the unit has been to give you the tools to analyzed the different kind of Natural Resources and of interconnection with economic system more or less directly natural resources are useful to the society the sons birthday or the proto derive it from them increase the utility of people enhance the welfare we saw however but from a public perspective and in this course we took only a public prospective it doesn't be uncrossed for the management of a resource extraction companies the decision concerning the amount of resources to extract and lose to live on the ground as well as the decision on how much to save and invest versus how much to consume an important trade offs involving the welfare of a present generation versus those of future ones although we didn't saw this directly we saw it only in terms of comparative dynamic analysis in the second lesson the weight associated to these trade-offs are given by the interest rate a high interest rate implies impatience for the future and a highway to the current generation while a smaller interest rate gives more weight to future generations this has deep implications for example in the calculation of an optimal carbon tax on this our models can't help at the hood the decision of a fail interest rate becomes something I'd cover let me note another aspect we saw only marginally against in the second lesson those of risk and uncertainty I don't think that would be protest for the increase of taxes on fossil fuels if you would all know with certainty but no action would mean the end of civilization in few hundreds of years it is because we don't know exactly and often a doe employed I am neither the custom environmental damage given by climate change no the cost needed to mitigate it but exist both Daniels and alarmist the buff could be right if you will want to do your analysis on Natural Resource Economics you will certainly need to investigate more on the stochastic aspects in particular if you are interested in forces officers I invite you travel look on our lab the forest economic group of the be world economy to occur appliqué at the website indicated in the slide or why not well sir my main research topic is in long very long term simulation models of the forest sector intended as the biological resources and for a supply chain we try to see how climate change forest management and public policies could interact together to continue provide services like timber production carbon mitigation but also water regulation and other consistent services our colleagues works on the evaluation of these ecosystem services and on empirical studies in general on environmental issues not necessarily only forests I hope you found the unit interesting and that my awkward English ponens wasn't too much of a barrier and you have the translation for the introduction and summaries I wish you good luck with the continuation of your studies

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